Is NEPSE breaking out or correcting? Index at 2522.66 (+9.24 pts). 0/0 MACD above zero, breadth 1.00 A/D ratio. Breakout and correction signals analyzed.
Breakout or Correction? — 2026-09-01
NEPSE closed at 2522.66, up +9.24 points (+0.37%) from the previous close of 2513.42. The index traded between 2501.49 (low) and 2537.76 (high), opening at 2518.13.
Is today's NEPSE action a sign of breakout momentum or a correction? Let's analyze the evidence.
Breakout Signals
- More losers (20) than gainers (20) — bearish breadth
- Only 0/0 MACD above zero — weak momentum
- More bearish (0) than bullish (0) crosses
- Top gainer volume is thin — move may not sustain
Correction Signals
- Limited bearish divergence
- 0 expanding — momentum intact
- Gaining sector is broader
Key Levels
- MMKJL: Support Rs. 315.3, Resistance Rs. 365
- ENL: Support Rs. 775.5, Resistance Rs. 822
- SJCL: Support Rs. 227, Resistance Rs. 241.8
Verdict
NEUTRAL — mixed signals suggest consolidation rather than a clear directional move.